Diese Arbeit untersucht die Entwicklung und den Zusammenhang zwischen 5- und 10jährigen Kredit- und Kapitalmarktzinssätzen. Kointegrationstests zeigen eine Separierung der Zinssätze bezüglich ihrer Fristigkeit: Der refinanzierungstechnisch bedingte Zusammenhang zwischen einem Kredit- und dem...

We reexamine the expectations theory of the term structure focusing on the question how monetary policy actions indicated by changes in the very short rate affect long-term interest rates. Our main point is that the expectations hypothesis implies that very long rates should only react to...

We reexamine the expectations theory of the term structure focusing on the question how monetary policy actions indicated by changes in the very short rate affect long-term interest rates. Our main point is that the expectations hypothesis implies that very long rates should only react to...